Financial Performance - Total revenue for 2021 was RMB2,098.2 million, an increase of 21.5% compared to RMB1,726.7 million in 2020[27]. - Gross profit for 2021 increased by 8.5% year-on-year to RMB263.3 million[27]. - Operating profit for 2021 increased by 0.3% year-on-year to RMB95.4 million[27]. - Profit after tax for 2021 decreased by 6.8% year-on-year to RMB62.3 million[27]. - The adjusted EBITDA for 2021 was RMB 121,390, down from RMB 128,723 in 2020[45][46]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 25%[137]. - Adjusted Net Profit for 2021 was RMB 80.46 million, down 7.5% from RMB 87.04 million in 2020[90]. Revenue Breakdown - Revenue from mobile advertising amounted to RMB2,005.1 million in 2021, representing a year-on-year increase of 20.5%[32]. - Revenue from online video distribution and game co-publishing amounted to RMB85.1 million and RMB8.0 million, respectively[32]. - Mobile game distribution revenues rose by 35.7% from RMB1,428.3 million in 2020 to RMB1,938.1 million in 2021[61]. - Mobile app distribution revenues decreased by 71.5% from RMB235.3 million in 2020 to RMB67.0 million in 2021[61]. - Revenues from mobile advertising increased by 20.5% from RMB1,663.6 million in 2020 to RMB2,005.1 million in 2021[53]. - Online-video distribution services generated revenues of RMB85.1 million in 2021, representing an increase of RMB29.7 million, or 53.6% from 2020[65]. Cost and Expenses - Cost of sales increased by 23.6% from RMB1,484.0 million in 2020 to RMB1,834.9 million in 2021[70]. - Selling and distribution expenses decreased by 9.1% from RMB16.5 million in 2020 to RMB15.0 million in 2021, mainly due to reduced marketing expenses[70]. - Research and development expenses decreased by 8.8% from RMB73.5 million in 2020 to RMB67.0 million in 2021, primarily due to reduced system research expenses[73]. - Administrative expenses increased by 14.6% from RMB40.4 million in 2020 to RMB46.3 million in 2021, mainly due to higher professional service expenses[75]. - Other expenses and losses increased from RMB15.1 million in 2020 to RMB38.5 million in 2021, primarily due to increased impairment loss on accounts receivable[75]. Assets and Equity - The total assets of the company as of December 31, 2021, were RMB 1,845,363, an increase from RMB 1,571,620 in 2020[50]. - The total equity increased to RMB 1,390,913 in 2021, compared to RMB 1,156,798 in 2020[50]. - Cash and bank balances increased by 85.1% to RMB 444.88 million as of December 31, 2021, compared to RMB 240.35 million in 2020[94]. - Current assets rose by 18.3% to RMB 1,572.88 million in 2021, up from RMB 1,329.75 million in 2020[94]. - Net current assets grew by 23.9% to RMB 1,138.25 million in 2021, compared to RMB 918.37 million in 2020[94]. Strategic Initiatives - The Group entered into a strategic cooperation with East West Bank to promote in-depth cooperation on development between the two parties[20]. - The Group hosted the 2021 Quick App Alliance Developers Conference to broaden the ecosystematic layout and development model of the industry[19]. - The company plans to continue investing in research and development to enhance its adaptability in the industry[39]. - The company aims to expand its channels, customer base, and markets in 2022[39]. - The company will collaborate with car-terminal working group members to provide customized internet services for smart vehicles[39]. Market and Product Development - The number of devices equipped with Quick App technology exceeded 1.2 billion, with over 500 million monthly active devices[34]. - The company launched a customized smart vehicle product, Q-CAR, based on Quick App technology[34]. - The company has launched 4 vehicle models under the Quick App Alliance, with 8 car-terminal manufacturers and over 50 beta developers involved[34]. - New product launches are expected to contribute an additional 300 million RMB in revenue over the next fiscal year[140]. - Market expansion plans include entering three new international markets by the end of the year, targeting a 10% increase in overall market share[142]. Shareholder Returns - The Board did not recommend the payment of a final dividend for the year ended December 31, 2021, similar to 2020[121]. - The board of directors has approved a dividend payout of 0.5 RMB per share, reflecting a commitment to returning value to shareholders[146]. - The company reported no final dividend for the year ended December 31, 2021, compared to nil in 2020[169]. Risks and Challenges - The COVID-19 pandemic has impacted the Group's business operations and financial results, with ongoing uncertainty regarding its effects[184]. - The Group faces risks including the need to enhance product functionality and maintain relationships with local channel partners[182]. - The Group's future outlook includes proactive management to ensure long-term business stability amid ongoing challenges[184]. IPO and Fund Utilization - The Group raised total net proceeds of approximately HK$194.7 million (equivalent to approximately RMB171.2 million) from its IPO on December 21, 2018[191]. - As of December 31, 2021, the Group utilized HK$184.4 million (approximately RMB162.1 million) of the IPO proceeds, leaving a remaining balance of HK$10.3 million (approximately RMB9.1 million)[193]. - The Group allocated HK$58.4 million (approximately RMB51.4 million) for strengthening research and development capabilities, with HK$11.1 million (approximately RMB10.3 million) utilized during the reporting period[193].
万咖壹联(01762) - 2021 - 年度财报